example use
a day in the life of a pharisian
Last updated
a day in the life of a pharisian
Last updated
Users, both lenders and borrowers, first have to create a . A port can then be used to create or fill as many as desired. Lenders create Offers while borrowers create Requests.
Lender-a, a hodler of ETH, navigates to the Pharos UI, creates a port and loads it with ETH. They then mix and match plugins to create four offers, each with its own terms such as MCR, , accepted collateral, liquidation strategy and leverage use cases. Offer-3 approves the use of three plugins: Uniswap, Curve ad Convex.
Borrower-a, a Bong Bears NFT hodler and a certified degen, is looking for some action. They navigate to the Pharos UI, create request-4 to borrow USDC at a fixed interest rate in return for their Bong Bear as collateral.
Borrower-a also takes out a 10x leverage ETH loan by filling offer-3. They then proceed to swap it for WBTC through the Uniswap V3 Plugin.
Lender-b, an esteemed and wise anon, hears about request-4 and proceeds to read the terms on the Pharos UI. "Lend my USDC for a fixed interest rate and in the case of default I get to keep the Bong Bear, effectively buying it for a discount? FILL FILL FILL!"
